** Wealth and asset manager Northern Trust's NTRS.O shares fall ~3.5% to $122.14 in afternoon trading
** CEO Mike O'Grady tells analysts NTRS has not entertained sale discussions and does not intend to
** His comments follow a Wall Street Journal report from June that said larger rival BNY BK.N had approached NTRS about a potential merger
** Analysts at Truist attribute stock's fall to "emphatic denial of the company being up for sale, in contrast to news reports of suitors approaching NTRS management in recent weeks"
** "Contrary to recent speculation, during my tenure as CEO, we have never entertained discussions regarding the sale of the company with any financial institution, nor do we intend to" - O'Grady
** NTRS CEO ruling out sale takes the shine off market-beating Q2 results
** Company reports Q2 profit of $2.13 versus estimates of $2.05, according to estimates compiled by LSEG
** NTRS' assets under custody and administration climb 9% to $18.1 trillion in Q2, while AUM rises 11%
** Stock up ~19% YTD, including session moves
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))
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