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Invesco has initiated a US$500 million preferred share repurchase from MassMutual and formed a strategic partnership with LGT Capital Partners. These actions, which spurred a 10.4% stock increase, signal a strategy to optimize capital and expand into private markets.
DA Davidson has increased its price target for KeyCorp (KEY) to $23 from $21, citing the bank's strategic decision to prioritize organic growth and share buybacks over acquisitions. This shareholder-friendly capital allocation strategy has been met with a bullish market sentiment.