Tortoise Energy Infrastructure (NYSE: TYG) gets 6M preferred share buy
Rhea-AI Filing Summary
Prudential Financial–affiliated insurers purchased preferred shares of Tortoise Energy Infrastructure Corp. On 2026-07-15, The Prudential Insurance Company of America bought 3,000,000 shares of Series K Mandatory Redeemable Preferred Stock at $10 per share, and PRUCO Life Insurance Company bought 3,000,000 shares of Series L at $10 per share, both held indirectly through these subsidiaries.
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Insights
Analyzing...
Insider Trade Summary
Net Buyer: 6,000,000 shares ($60,000,000)
Net Buy
2 txns
Insider
PRUDENTIAL FINANCIAL INC, PRUDENTIAL INSURANCE CO OF AMERICA, PRUCO LIFE INSURANCE CO
Role
10% Owner | 10% Owner | 10% Owner
Bought
6,000,000 shs ($60.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Series K Mandatory Redeemable Preferred Stock | 3,000,000 | $10.00 | $30.00M |
| Purchase | Series L Mandatory Redeemable Preferred Stock | 3,000,000 | $10.00 | $30.00M |
Holdings After Transaction:
Series K Mandatory Redeemable Preferred Stock — 3,000,000 shares (Indirect, By The Prudential Insurance Company of America, a wholly-owned subsidiary of the Reporting Person);
Series L Mandatory Redeemable Preferred Stock — 3,000,000 shares (Indirect, By PRUCO Life Insurance Company, a wholly-owned subsidiary of the Reporting Person)
Footnotes (1)
- Preferred stock owned by The Prudential Insurance Company of America, indirectly owned by Prudential Financial, Inc., its parent holding company and a ten percent owner of a class. Preferred stock owned by PRUCO Life Insurance Company, indirectly owned by Prudential Financial, Inc., its parent holding company and a ten percent owner of a class.
Key Figures
Series K shares purchased: 3,000,000 shares
Series L shares purchased: 3,000,000 shares
Purchase price per share: $10.00
+3 more
6 metrics
Series K shares purchased
3,000,000 shares
Series K Mandatory Redeemable Preferred Stock bought on 2026-07-15
Series L shares purchased
3,000,000 shares
Series L Mandatory Redeemable Preferred Stock bought on 2026-07-15
Purchase price per share
$10.00
Price per share for both Series K and Series L purchases
Total preferred shares purchased
6,000,000 shares
Aggregate of Series K and Series L preferred stock bought by Prudential affiliates
Series K holdings after transaction
3,000,000 shares
Total Series K Mandatory Redeemable Preferred Stock held following the purchase
Series L holdings after transaction
3,000,000 shares
Total Series L Mandatory Redeemable Preferred Stock held following the purchase
Key Terms
Mandatory Redeemable Preferred Stock, ten percent owner, indirectly owned
3 terms
Mandatory Redeemable Preferred Stock financial
"Series K Mandatory Redeemable Preferred Stock"
ten percent owner regulatory
"its parent holding company and a ten percent owner of a class"
indirectly owned financial
"Preferred stock owned by PRUCO Life Insurance Company, indirectly owned by Prudential"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions in TYG are reported for Prudential entities?
Prudential-affiliated insurers purchased 6,000,000 preferred shares of Tortoise Energy Infrastructure Corp. on 2026-07-15, split evenly between Series K and Series L Mandatory Redeemable Preferred Stock, at a price of $10 per share for each series.
Were the TYG insider purchases made under a Rule 10b5-1 trading plan?
The transactions were not marked as being under a Rule 10b5-1 trading plan. The Form 4’s plan affirmation checkbox is unchecked, and no footnote describes these purchases as executed pursuant to a pre-arranged trading arrangement.
What ownership status does Prudential Financial Inc. report in relation to TYG?
Prudential Financial Inc. is described as a ten percent owner of a class of Tortoise Energy Infrastructure Corp., through indirect ownership of preferred stock held by its insurance subsidiaries, including The Prudential Insurance Company of America and PRUCO Life Insurance Company.