Principal Financial Group Inc. could be a takeover target, according to Citi Investment Research analyst Colin Devine, the Associated Press reported. Devine cut his target price for Principal stock to $35 from $60 and lowered his annual earnings estimate for 2008 by 10 cents per share to $3.80 and by 35 cents per share to $4.20 for 2009. Though Devine maintained his “buy” recommendation, he considers the company medium risk, because of concerns about the quality of Principal’s $65.1 billion investment portfolio. He said Principal is the “most attractive consolidation candidate” in the sector and wouldn’t be surprised if large insurers, large-cap banks or investment managers look at acquiring it. He also said the company’s preliminary third-quarter profit announcement last week was disappointing. Principal said it expects operating earnings for the third quarter to be in the range of 92 to 97 cents per share. The company is scheduled to announce its final results on Nov. 3. The company closed at $18.52 per share yesterday, down from a 52-week high of $70.85.

Dice Holdings Inc., parent company of Urbandale-based Dice Inc., said its third-quarter revenues rose 4 percent to $39.6 million from the year-ago period. Operating income increased 7 percent to $11 million, and net income was up 52 percent to $6.4 million, partially because of a lower effective tax rate in the quarter. DCS Online revenues, which include Dice.com, were up 2 percent to $27.2 million and made up 69 percent of Dice Holdings’ total revenues. The eFinancialCareers segment, which generated 25 percent of Dice’s total revenues, was up 18 percent to $9.9 million, driven by increased revenues at its international operations. Other revenues, including eFinancialCareers operations in North America, JobsintheMoney.com and Targeted Job Fairs, fell 19 percent to $2.6 million. “It will come as no surprise that recruitment activity is slowing,” said Scot Melland, chairman, president and CEO, in a release. “However, in the third quarter, we continued to see success providing access to highly skilled professionals to our customers. … As we look ahead to the fourth quarter and 2009, we believe market conditions will deteriorate further, which will impact our customer and billings performance.”

Foreclosure filings were up more than 70 percent in the third quarter of the year, compared with the same period in 2007, according to data released by RealtyTrac Inc., the Associated Press reported. Nearly 766,000 homes in the United States faced default notices, auction sale notices or bank repossessions. RealtyTrac predicts more than 1 million bank-owned properties will be on the market by the end of the year, or around one-third of all properties for sale in the United States. For the complete report, go to www.realtytrac.com.

Iowa Insurance Commissioner Susan Voss has appointed Angel Robinson as Iowa’s first consumer advocate for insurance, effective Nov. 14. Robinson currently works at the Iowa Coalition Against Domestic Violence and has experience working with the Legislature in that role. The consumer advocate position was created this year when legislation was passed to form the Consumer Advocate Bureau to examine a number of areas in the insurance business. Iowa is one of three states to have such a position.

The Greater Des Moines Partnership has announced the recipients of the 2008 Economic Impact and Celebrate Business! Awards. The winners of the Economic Impact awards, which look at companies’ job creation, capital investment and facility expansion, are EFCO Corp., ING USA Annuity and Life Insurance Co., John Deere Credit and Prairie Meadows Racetrack & Casino. The Celebrate Business! Awards acknowledge innovative and enduring business initiatives. The winners are Broadlawns Medical Center and Diversified Management Services for Best Kept Secret; West Bank and Community CPA & Associates for Community Champion; GCommerce Inc. and Kemin Industries Inc. for Lifelong Learning; DeWaay Capital Management for Best Workplace for Young Professionals; and Principal Financial Group Inc. for the Commuter Award. These companies will be recognized in a ceremony on Oct. 28 from 11 a.m. to 1 p.m. at the Embassy Suites on the River, 101 E. Locust St., Des Moines. Learn more at www.desmoinesmetro.com/events.

Wells Fargo & Co. has declared a dividend of 34 cents, payable on Dec. 1 to shareholders of record on Nov. 7