** Shares of investment management firm T. Rowe Price Group TROW.O rise as much as 1.6%, last up 1.2% at $124.48

** TROW approves 15 mln share increase to its existing buyback authorization

** Total repurchase authorization will be about 19 mln shares following the increase — TROW

** TROW may repurchase shares in the open market or in privately negotiated transactions

** As of last close, TROW shares up 14.2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))