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Stock market crash: I think these are the best UK shares that FTSE 100 value investors can buy today

The FTSE 100 continues its tentative zig-zag higher but remains 15% below February’s pre-crash levels. Some shares have plummeted at an even sharper pace than this. It means that Britain’s premier share index remains packed with bargains like Legal & General.

At current prices I think the financial colossus is too good to miss. On top of a forward price-to-earnings (P/E) ratio of below 8 times at current prices of around 220p, this Footsie company boasts a mighty 8% dividend yield. Its share price has declined 30% since the middle of February but the scale of the slump is quite unwarranted, in my opinion.

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Okay, Legal & General may suffer a little near-term turbulence as the global economy cools. But as the business commented recently, it only has “limited exposure” to the biggest Covid-19 sector casualties like airlines, hotel, leisure, and traditional retail. Its underlying operations remain quite robust, as the steady increase in its assets under management show. And it has the balance sheet might to fully capitalise on the eventual economic recovery.

Another FTSE 100 bargain

I personally own shares in Taylor Wimpey and wouldn’t consider selling out for a second. The Footsie homebuilder’s share price has shrunk 40% since the middle of February but I reckon this provides a terrific buying opportunity. At current prices of around 140p, Taylor Wimpey boasts a forward P/E multiple of 11 times and a chubby 4.1% dividend yield for 2020.

It’s quite possible that the FTSE 100 company will see demand for its products fall in the near term. Economic conditions are tough and lenders are pulling mortgage loans like there’s no tomorrow. But make no mistake: the UK still has a huge structural housing shortage, and Taylor Wimpey is set to capitalise on this when the economic recovery kicks in.

And last week the builder raised £515m in a share placing to bulk up its land bank and improve its long-term opportunities still further.

Advertising ace

WPP’s another cut-price share worthy of serious of attention today. Slashed marketing budgets following the Covid-19 outbreak mean that profits will fall off a cliff in 2020. Consequently the global advertising colossus has seen its share price plummet 35% in the past three months.

It’s a decline that leaves WPP trading on a forward P/E ratio of 11 times. Investors can tap into a chunky 4.4% dividend yield at current prices around 630p, too. The ad market may well be under pressure over the next few years but the long-term outlook for the company is very bright. It is doubling-down on the fast-growing digital arena, it continues streamlining and stripping out other costs, and it recently took on board former Burberry alumni Angela Ahrendts to help it thrive in the post-Martin Sorrell era.

I really like the cut of these three FTSE-quoted bargains. But they’re just a few of the low-cost giants that deserve serious attention from dip buyers today. It’s time to ready the chequebook and go shopping in the stock sales, I reckon.

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Royston Wild owns shares of Taylor Wimpey. The Motley Fool UK has recommended Burberry. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.