DGR375,
Some have suggested that you should be holding your bead level with the top of the rear vee. This will actually worsen your problem and make the point of impact even higher on the target than it is now!
As 400NE has suggested, your rear sight needs to be filed to give the correct POI on the target.
Filing a rear sight may sound like a simple job, but it isn't easy to keep all the angles correct, central, and symmetrical.

Are you certain that you are holding the bead right at the very bottom of the vee?