yes, the best time is september. if you need to do it in spring, make it VERY EARLY in spring and/or late winter - you'll want to move them before they come out of dormancy. so, that would mean any day you get that's warm enough for the soil to be workable.
Thank you. Will this effect their blooms in anyway? If I dig them up and pot them, what happens if we get frost?
The standard method of propagating Peony is by division of the roots. If a Peony root is cut into divisions, every piece of root that has a bud attached to it will grow and produce a new plant of the same variety. Each division should, preferably, include three to five eyes (buds). When planting Peonies, be careful that the roots are not set too deeply. It is getting pretty late to transplant Peonies.