Principal Financial Group Inc. Reduces Stake in AutoNation, Inc. (NYSE:AN)

Principal Financial Group Inc. reduced its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,652 shares of the company's stock after selling 21,235 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of AutoNation worth $10,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Foster & Motley Inc. lifted its position in shares of AutoNation by 80.8% in the 3rd quarter. Foster & Motley Inc. now owns 5,898 shares of the company's stock worth $1,055,000 after purchasing an additional 2,636 shares during the period. QRG Capital Management Inc. raised its stake in AutoNation by 5.1% in the third quarter. QRG Capital Management Inc. now owns 5,305 shares of the company's stock worth $949,000 after buying an additional 258 shares in the last quarter. Van ECK Associates Corp lifted its holdings in AutoNation by 189.2% during the third quarter. Van ECK Associates Corp now owns 29,775 shares of the company's stock worth $5,327,000 after buying an additional 19,480 shares during the period. Prosperitas Financial LLC boosted its position in AutoNation by 11.7% during the 3rd quarter. Prosperitas Financial LLC now owns 14,096 shares of the company's stock valued at $2,522,000 after acquiring an additional 1,476 shares in the last quarter. Finally, Custom Index Systems LLC increased its holdings in shares of AutoNation by 79.7% in the 3rd quarter. Custom Index Systems LLC now owns 2,262 shares of the company's stock valued at $405,000 after acquiring an additional 1,003 shares during the period. 94.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AN. Stephens assumed coverage on shares of AutoNation in a research report on Thursday, September 12th. They set an "overweight" rating and a $210.00 target price for the company. Bank of America dropped their price target on AutoNation from $220.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company decreased their price objective on shares of AutoNation from $187.00 to $181.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their target price on shares of AutoNation from $190.00 to $180.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Finally, Morgan Stanley raised shares of AutoNation from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, AutoNation presently has a consensus rating of "Moderate Buy" and an average price target of $199.00.

Insider Buying and Selling

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $183.43, for a total value of $7,189,355.42. Following the transaction, the insider now directly owns 3,786,144 shares of the company's stock, valued at approximately $694,492,393.92. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

AutoNation Stock Performance

Shares of AN stock traded down $0.53 on Monday, hitting $164.27. The company had a trading volume of 285,707 shares, compared to its average volume of 430,224. AutoNation, Inc. has a twelve month low of $130.35 and a twelve month high of $197.18. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. The firm has a market cap of $6.51 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 3.40 and a beta of 1.21. The company has a 50-day moving average price of $166.85 and a 200-day moving average price of $168.35.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.