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, 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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

Brighthouse Financial (BHF) is a stock many investors are watching right now. BHF is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 3.28, while its industry has an average P/E of 6.09. Over the past 52 weeks, BHF's Forward P/E has been as high as 4.17 and as low as 2.57, with a median of 3.58.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by 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. BHF has a P/S ratio of 0.28. This compares to its industry's average P/S of 0.63.

Finally, investors should note that BHF has a P/CF ratio of 1.84. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. BHF's P/CF compares to its industry's average P/CF of 6.74. Over the past year, BHF's P/CF has been as high as 5.08 and as low as -13.33, with a median of -0.86.

Voya Financial (VOYA) may be another strong Insurance - Life Insurance stock to add to your shortlist. VOYA is a # 2 (Buy) stock with a Value grade of A.

Voya Financial is currently trading with a Forward P/E ratio of 8.40 while its PEG ratio sits at 1.76. Both of the company's metrics compare favorably to its industry's average P/E of 6.09 and average PEG ratio of 0.57.

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