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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_05BE4D12526F84ABE40632BDCDD20B34" xlink:to="lab_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity_05BE4D12526F84ABE40632BDCDD20B34" xlink:type="arc" />
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    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_F13FF18D5F0C6A4EC1EF32BDCDD24CF3_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_F13FF18D5F0C6A4EC1EF32BDCDD24CF3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other investing activity</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3D41B3E49F9162C2004E32BDCDD2F04A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_800F508897B1CFAB579D32BDCDD276B7_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_800F508897B1CFAB579D32BDCDD276B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities</link:label>
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    <link:label id="lab_trow_ProceedsFromStockOptionsExercisedNetOfPaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligationsAndStrikePrice_3405265F72FFD2A8269432BDCDD292A8_terseLabel_en-US" xlink:label="lab_trow_ProceedsFromStockOptionsExercisedNetOfPaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligationsAndStrikePrice_3405265F72FFD2A8269432BDCDD292A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common share issuances under stock-based compensation plans</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfDividends_7A80BC127C8ADE858A4E32BDCDD21CD4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_7A80BC127C8ADE858A4E32BDCDD21CD4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid to common stockholders of T. Rowe Price Group</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_9B6ACAFA63D4C298844B32BDCDD33AB8_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_9B6ACAFA63D4C298844B32BDCDD33AB8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
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    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_1C3CEB893DCD5C1E563C32BDCDD313F8_verboseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_1C3CEB893DCD5C1E563C32BDCDD313F8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios</link:label>
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