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StanCorp Financial Group, Portland, Ore. (NYSE: SFG), warned investors a week ahead of its July 23 earnings date that it will finish the second quarter around $0.51, “well below” its $0.83 and consensus $0.84.

The insurance and financial services firm said it will fall short because of elevated claims incidence in its long-term disability group. Earnings for 2012 are expected to come in below the insurer’s previous forecast by as much as $3.90 per share.

SFG was down 11% at $32.82 in mid-day trading.