Investors interested in Insurance - Property and Casualty stocks are likely familiar with Hanover Insurance Group (THG Quick QuoteTHG - Free Report) and CCC Intelligent Solutions Holdings Inc. (CCCS Quick QuoteCCCS - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Currently, Hanover Insurance Group has a Zacks Rank of #2 (Buy), while CCC Intelligent Solutions Holdings Inc. has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that THG is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

THG currently has a forward P/E ratio of 13.27, while CCCS has a forward P/E of 27.34. We also note that THG has a PEG ratio of 0.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CCCS currently has a PEG ratio of 1.13.

Another notable valuation metric for THG is its P/B ratio of 1.97. 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, CCCS has a P/B of 2.63.

These are just a few of the metrics contributing to THG's Value grade of A and CCCS's Value grade of D.

THG stands above CCCS thanks to its solid earnings outlook, and based on these valuation figures, we also feel that THG is the superior value option right now.