Investors looking for stocks in the Insurance - Life Insurance sector might want to consider either Lincoln National (LNC) or The Baldwin Insurance Group (BWIN). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, Lincoln National has a Zacks Rank of #2 (Buy), while The Baldwin Insurance Group has a Zacks Rank of #3 (Hold). This means that LNC's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

LNC currently has a forward P/E ratio of 5.58, while BWIN has a forward P/E of 28.85. We also note that LNC has a PEG ratio of 0.32. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. BWIN currently has a PEG ratio of 0.86.

Another notable valuation metric for LNC is its P/B ratio of 0.78. 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. By comparison, BWIN has a P/B of 5.08.

Based on these metrics and many more, LNC holds a Value grade of A, while BWIN has a Value grade of D.

LNC is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that LNC is likely the superior value option right 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

Lincoln National Corporation (LNC) : Free Stock Analysis Report

Baldwin Insurance Group, Inc. (BWIN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research