Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Fidelity National Financial (FNF). FNF is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. FNF has a P/S ratio of 0.98. This compares to its industry's average P/S of 1.04.

Finally, investors will want to recognize that FNF has a P/CF ratio of 4.27. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. FNF's current P/CF looks attractive when compared to its industry's average P/CF of 5.59. FNF's P/CF has been as high as 7.19 and as low as 3.87, with a median of 4.83, all within the past year.

Investors could also keep in mind The Travelers Companies (TRV), an Insurance - Property and Casualty stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

The Travelers Companies is trading at a forward earnings multiple of 12.65 at the moment, with a PEG ratio of 4.15. This compares to its industry's average P/E of 29.79 and average PEG ratio of 3.48.

TRV's price-to-earnings ratio has been as high as 14.16 and as low as 11.52, with a median of 12.72, while its PEG ratio has been as high as 4.15 and as low as 1.77, with a median of 2.01, all within the past year.

The Travelers Companies sports a P/B ratio of 1.38 as well; this compares to its industry's price-to-book ratio of 1.34. In the past 52 weeks, TRV's P/B has been as high as 1.44, as low as 1.18, with a median of 1.35.

Value investors will likely look at more than just these metrics, but the above data helps show that Fidelity National Financial and The Travelers Companies are likely undervalued currently. And when considering the strength of its earnings outlook, FNF and TRV sticks out as one of the market's strongest value stocks.

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