FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

KENNEDY JAMES A C 		2. Issuer Name and Ticker or Trading Symbol

PRICE T ROWE GROUP INC [ TROW ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO & President
(Last)          (First)          (Middle)

T. ROWE PRICE GROUP, INC., P.O. BOX 89000 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/13/2012
(Street)

BALTIMORE, MD 21289-0320
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   3/13/2012     M    80000   A $21.725   441195   I   James A.C. Kennedy LLC  
Common Stock   3/13/2012     F    27173   D $63.96   414022   I   James A.C. Kennedy LLC  
Common Stock   3/14/2012     M    15400   A $21.725   504888.972   D    
Common Stock   3/14/2012     A   V 28.475   A $61.4574   (1) 504917.447   D    
Common Stock   3/14/2012     S    15400   D $63.9036   489517.447   D    
Common Stock                  361335   I   2010 Kennedy Grantor Retained Annunity Trust  
Common Stock                  1000000   I   2011 Grantor Retained Annuity Trust VI  
Common Stock                  485119   I   2008 Kennedy Family Trust  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy)   $21.725   3/13/2012     M         80000    12/11/2004   (2) 12/11/2013   Common Stock   80000   $ 0   0   I   James A.C. Kennedy LLC   (3)
Stock Options (Right to Buy)   $63.96   3/13/2012     A      27173       3/13/2012   (4) 12/11/2013   Common Stock   27173   $ 0   27173   I   James A.C. Kennedy LLC  
Stock Options (Right to Buy)   $21.725   3/14/2012     M         15400    12/11/2004   (2) 12/11/2013   Common Stock   0   $ 0   0   D    

Explanation of Responses:
( 1)  Shares acquired pursuant to the T. Rowe Price Group, Inc. Employee Stock Purchase Plan at the noted weighted-average price.
( 2)  12/11/2003 Grant - The option vests 20% annually over a 5 year period beginning on 12/11/2004.
( 3)  These shares were previously reported as directly owned, but were transferred to the James A.C. Kennedy LLC on 11/18/2008.
( 4)  03/13/2012 Replenishment Grant - option vests 100% immediately.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KENNEDY JAMES A C
T. ROWE PRICE GROUP, INC.
P.O. BOX 89000
BALTIMORE, MD 21289-0320 		X
CEO & President

Signatures
/s/ Power of Attorney, Barbara A. Van Horn 3/15/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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