Is it currently grown in a pot or garden bed?

It's in a pot that holds 100 quarts of soil. I have another peony in the same size container that is doing excellent.

Some peonies just don't do well in pots. Trees and Itohs are the exception. Herbaceous is rather difficult to grow in pots because the roots have a tendency to tangle and choke the plant.

Thanks guys. Can I move it in the ground now or should I wait till fall?

Potted plants can go in the ground anytime.

Thanks