nish2608, what did you scope the beam to at the bolt hole?  If you scoped it to the edge, that creates a higher stress than the real bolt head which makes contact to an area under the bolt head.  You can reduce this stress by imprinting a circle around the hole to create a face to scope the end of the beam to. The area of the face distributes the load and reduces the stress.

As jj77 requested above, please post some images in your reply so we can see your model and mesh.