The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.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.Axis Capital Holdings (AXS) is a stock many investors are watching right now. AXS is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.AXS is also sporting a PEG ratio of 1.58. 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. AXS's industry currently sports an average PEG of 2.40. AXS's PEG has been as high as 2.62 and as low as 1.58, with a median of 1.97, all within the past year.Another notable valuation metric for AXS is its P/B ratio of 0.93. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.27. AXS's P/B has been as high as 1.13 and as low as 0.79, with a median of 0.96, over the past year.Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. AXS has a P/S ratio of 0.82. This compares to its industry's average P/S of 0.92.Finally, investors will want to recognize that AXS has a P/CF ratio of 5.69. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 6.76. Within the past 12 months, AXS's P/CF has been as high as 11.43 and as low as 5.69, with a median of 6.72.If you're looking for another solid Insurance - Property and Casualty value stock, take a look at Chubb Limited (CB). CB is a # 2 (Buy) stock with a Value score of A.Chubb Limited is trading at a forward earnings multiple of 11.71 at the moment, with a PEG ratio of 1.17. This compares to its industry's average P/E of 27.88 and average PEG ratio of 2.40.Over the past year, CB's P/E has been as high as 16.31, as low as 11.48, with a median of 13.68; its PEG ratio has been as high as 1.63, as low as 1.15, with a median of 1.97 during the same time period.Chubb Limited sports a P/B ratio of 1.39 as well; this compares to its industry's price-to-book ratio of 1.27. In the past 52 weeks, CB's P/B has been as high as 1.62, as low as 1.21, with a median of 1.41.These are just a handful of the figures considered in Axis Capital Holdings and Chubb Limited's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that AXS and CB is an impressive value stock right now. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report Chubb Limited (CB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research