Financial Winners and Losers: Citigroup

Updated from 3:03 p.m. EDT

Financial stocks were mixed in trading Tuesday, as investors braced for an onslaught of financial reports as Alcoa (AA Quote) sets to kick off earnings season after the bell.

The NYSE Financial Sector Index closed down 3.6% to 3,015, as investors took profits after a bullish month of trading. But the benchmark's decline was belied by rises in several notable stocks, including Citigroup (C Quote) and Morgan Stanley (MS Quote).

Citi shares closed up 1.5% to $2.76 and Morgan added a penny to $23.32.

Conversely, JPMorgan Chase (JPM Quote) shed 3.4% to $27.25, Wells Fargo (WFC Quote) fell 2.6% $14.85 and Bank of America (BAC Quote) fell 1.6% to $7.36. Goldman Sachs (GS Quote) closed down 1.1% to $117.90

Goldman, JPMorgan and Citi are among the companies expected to report earnings next week.

Shares of Lincoln National (LNC Quote) jumped 8.2% to $6.89 after the insurer said it had repaid a $500 million debt maturity and plans to repay $200 million of commercial paper as it matures over the next several weeks. Concerns about the company's capital state have battered the stock in recent weeks.