2/9/2010- Morgan Stanley analysts are trimming their 2010 EPS estimates by 10 cents to $2.65 for Principal Financial Group (NYSE:PFG) and trimming their base case to $25, down from $27.

Analyst Nigel Dally said, "Principal reported operating EPS of $0.62, or$0.61 excluding an abnormal bond gain in international. Equally as important, flows were disappointing, with sizable outflows in asset accumulation and global asset management. The one offset, however, was that the reported book value of $23.05came in ahead of expectations, and the capital position remains solid."

The bank sees fiscal 2010 EPS of $2.65, vs. the consensus estimates of $2.74, and fiscal 2011 EPS of $2.95, vs. the consensus estimates of $3.10.

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