UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                                Amendment No. |_|

                              Peoples Bancorp Inc.
                                (Name of Issuer)


                                  Common Stock
                         (Title of Class of Securities)


                                    709789101
                                 (CUSIP Number)


                               December 31, 2015
            (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

     [X]   Rule 13d-1(b)
     [ ]   Rule 13d-1(c)
     [ ]   Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).




CUSIP No. 709789101                      13G                   Page 2 of 6 Pages


________________________________________________________________________________
1.   NAMES OF REPORTING PERSONS

     Private Management Group, Inc.
________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]
________________________________________________________________________________
3.   SEC USE ONLY


________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     State of California

________________________________________________________________________________
              5.   SOLE VOTING POWER

                   1,017,562 shares
NUMBER OF     _________________________________________________________________
SHARES        6.   SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH      n/a
REPORTING     _________________________________________________________________
PERSON WITH   7.   SOLE DISPOSITIVE POWER

                   1,017,562 shares
              _________________________________________________________________
              8.   SHARED DISPOSITIVE POWER

                   n/a
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,017,562 shares
________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                          [_]
________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     5.53%
________________________________________________________________________________
12.  TYPE OF REPORTING PERSON
     IA
________________________________________________________________________________




Item 1(a)  Name of Issuer:

     Peoples Bancorp Inc.

Item 1(b)  Address of Issuer's Principal Executive Offices:

     138 Putnam Street
     PO Box 738
     Marietta, OH 45750

Item 2(a)  Name of Person Filing:

     Private Management Group, Inc.

Item 2(b)  Address of Principal Business Office or, if None, Residence:

     15635 Alton Parkway, Suite 400
     Irvine, CA 92618



Item 2(c)  Citizenship:

     The Adviser is a corporation organized under the laws of the State of CA

Item 2(d)  Title of Class of Securities:

     Common Stock

Item 2(e)  CUSIP Number:

     709789101


Item 3. If this statement is filed pursuant to Rules 240.13d-1(b) or
        240.13d-2(b) or (c), check whether the person filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Act (15
               U.S.C.78o);

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Act (15 U.S.C.78c);

     (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Act (15
               U.S.C.78c);

     (d)  [_]  Investment  company  registered under Section 8 of the Investment
               Company Act of 1940 (15 U.S.C.8a-8);

     (e)  [X]  An Investment Adviser in accordance with Section 240. 13d-1(b)(1)
               (ii)(E);

     (f)  [_]  An employee  benefit plan or endowment  fund in  accordance  with
               Section 240. 13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent  holding  company or control  person in accordance  with
               Section 240. 13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
               Deposit Insurance Act (12 U.S.C. 1813);

     (i)  [_]  A  church  plan  that  is  excluded  from  the  definition  of an
               investment  company  under  Section  3(c)(14)  of the  Investment
               Company Act of 1940 (15 U.S.C.80a-3);

     (j)  [_]  A non-U.S. institution in accordance with
               Section 240. 13d-1(b)(1)(ii)(J).

     (k)  [_]  Group, in accordance with Section 240. 13d-1(b)(1)(ii)(K).
               If filing as a non-U.S. institution in accordance with
               240.13d-1(b)(1)(ii)(J), please specify the type of
               institution:____________________________.





Item 4. Ownership.

     (a)  Amount beneficially owned:

          1,017,562 shares shares

     (b)  Percent of class:

          5.53%

     (c)  Number of shares as to which such person has:

          (i)  Sole power to vote or to direct the vote
               1,017,562 shares

          (ii) Shared power to vote or to direct the vote
               n/a

         (iii) Sole power to dispose or to direct the disposition of
               1,017,562 shares

          (iv) Shared power to dispose or to direct the disposition of
               n/a



Item 5. Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
     hereof the reporting person has ceased to be the beneficial owner
     of more than five percent of the class of securities, check the
     following [ ].

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

     Various separately managed accounts for whom the reporting person acts as
     investment advisor have the right to receive dividends from, and the
     proceeds of the sale of, the shares reported by the reporting person.


Item 7. Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported on by the Parent Holding Company.

     n/a

Item 8. Identification and Classification of Members of the Group.

     n/a

Item 9. Notice of Dissolution of Group.

     n/a

Item 10. Certification.

     By signing below I certify that, to the best of my knowledge and belief,
     the securities referred to above were not acquired and are not held for the
     purpose of and do not have the effect of changing or influencing the
     control of the issuer of such securities and were not acquired and are not
     held in connection with or as a participant in any transaction having such
     purpose or effect.












                                    SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                                                        January 28, 2016
                                                  -----------------------------
                                                             (Date)



                                                  /s/ Robert T. Summers, CFA
                                                  -----------------------------
                                                           (Signature)



                                                      Robert T. Summers, CFA
                                                      Chief Financial Officer
                                                  Private Management Group, Inc.
                                                  -----------------------------
                                                           (Name/Title)