That is a bit high, but it's about personal taste unless you mainly play slap bass then you pretty much need a low action.
My Grind is about an 1/8 inch slightly more to the top of the string.
Is the neck straight firstly.
Hold it in its playing position and then move yourself so you can look straight down the neck, don't hold it horizontal or on its back or anything like that.
This is well worth a read if you decide to set it up yourself
http://www.jerzydrozdbasses.com/ulti...ass-setup.html
If the bridge saddles are already lowered fully and you want to lower the action, set the neck almost perfectly straight with very little back bow and then check every fret for buzz. if you have a high spot you might want to consider taking it to a pro to do a fret levelling, or buy some files and give it a go yourself.
Best of luck