The 4 best value stocks to buy with $10,000 in 2015

Your best chances for success in 2015 could include FlexiGroup Limited (ASX:FXL) and Insurance Australia Group Ltd (ASX:IAG).

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There is a strange sentiment engulfing the ASX at the moment.

On one hand investors are still quick to jump on the IPO hype-train (yes, I'm taking about you Medibank Private Ltd (ASX: MPL)), in spite of often high listing prices, while on the other hand investors are sharply punishing even the slightest mis-step by strong, growing companies.

It's a recipe for disaster and the best defence for your portfolio heading into 2015 is to continue buying strong, well run companies offering great value and a margin of safety. There are four companies in particular I would consider buying with $10,000 heading into the next year:

FlexiGroup Limited (ASX: FXL)

P/E: 15.8, Dividend Yield: 5.5%

Consumer financing company FlexiGroup Limited is a prime example of this misplaced sentiment. The market panicked last week when the company announced a provision of a mere $2.5 million to write down old photographic printing equipment. Shares were dumped without mercy and it wiped almost $140 million off the company's market valuation.

FlexiGroup can now be picked up for a price-to earnings (p/e) ratio of just 15.8 on trailing FY14 earnings, or 13 on FY13 earnings. With FY15 NPAT still expected to grow by 7% and a 5.5% dividend yield, the company is a must have for 2015.

Ainsworth Game Technology Limited (ASX: AGI)

P/E: 12.6, Dividend Yield: 4.2%

In a similar situation is gaming machine company Ainsworth Game Technology Limited. Shares are down 45% in 2014 as the company's phenomenal run of growth has come to a slow.

However at the current p/e ratio of 12.6, Ainsworth's long-term prospects, particularly in the United States, strong margins and minimal debt offers value and an attractive (though unfranked) dividend.

Mayne Pharma Group Ltd (ASX: MYX)

P/E: 20, Dividend Yield: 0%

The value in pharmaceutical company Mayne Pharma Group Ltd comes from expected growth over the next two years relative to its current price. The company stands to benefit from the overall trend of healthcare demand, but is also driving its own growth with the launch of new products focused on the U.S. region.

Full year 2014 revenues grew 71% over FY13 and with 17 products pending FDA approval growth in FY15 should again be strong.

Insurance Australia Group Ltd (ASX: IAG)

P/E: 11.4, Dividend Yield: 6%

Shares in Insurance Australia Group Ltd had a good run over the last two years, far outperforming QBE Insurance Group Ltd (ASX: QBE), but the company still offers value relative to its current dividend and impressive outlook into 2015.

IAG recently updated the market that it was on track to meet guidance with gross written premium growth of between 17% and 20%, and insurance margins of 13.5%-15.5%.

Each of these four companies has made the top of my value focused watch list for 2015 to allocate my own $10,000 bundle to, but there is one other company which I am preparing to buy even before these four companies.

Motley Fool contributor Regan Pearson owns shares in QBE Insurance Group Ltd and FlexiGroup Limited

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