Does such sect inside Christianity exist? And if so how do they explain the reasoning for this belief?
There are quite a few smaller Christian sects that deny the divinity of Jesus but nevertheless believe he is the Messiah and son of God. To say that these groups are not truly Christians is about as narrow minded as a Protestant saying that a Catholic or a Mormon is not a true believer. Jehovah's Witnesses and Christadelphians are both examples of Christians that reject the notion that Jesus is a deity but accept his virgin birth and await his 2nd coming.
A.) less than 2.2 percent of Christians belong to sects professing to believe that Jesus is not God.
Demographics wikipedianot the table
*There are quite a few who would disagree with the assessment of these two groups, including myself, but for the sake of simplicity, if you're going to go looking for groups that deny the Divinity of Christ, start here.
**I was just reading about the hypostatic union, and apparently Nestorian's think it was just luck or something.
B.) The answer is too subjective and contentious to possibly answer without inciting a holy war. The reasons are probably:
protected by Community♦ Oct 3 '13 at 18:21
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