Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is Unum Group (UNM). UNM is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 8.35 right now. For comparison, its industry sports an average P/E of 13.31. UNM's Forward P/E has been as high as 8.63 and as low as 5.39, with a median of 6.20, all within the past year.

We also note that UNM holds a PEG ratio of 1.02. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. UNM's PEG compares to its industry's average PEG of 1.44. Over the past 52 weeks, UNM's PEG has been as high as 1.27 and as low as 0.72, with a median of 0.84.

Another valuation metric that we should highlight is UNM's P/B ratio of 1.25. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. UNM's current P/B looks attractive when compared to its industry's average P/B of 2.01. Over the past 12 months, UNM's P/B has been as high as 1.29 and as low as 0.86, with a median of 0.97.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. UNM has a P/S ratio of 1.06. This compares to its industry's average P/S of 1.68.

Finally, we should also recognize that UNM has a P/CF ratio of 7.59. 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. UNM's current P/CF looks attractive when compared to its industry's average P/CF of 10.98. UNM's P/CF has been as high as 7.91 and as low as 5.95, with a median of 6.98, all within the past year.

Value investors will likely look at more than just these metrics, but the above data helps show that Unum Group is likely undervalued currently. And when considering the strength of its earnings outlook, UNM sticks out at as one of the market's strongest value stocks.

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