** 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))