Looks like it is a school ring for Sargent School Boston University. I think it says seal of the Sargent School for Physical Education.
Also found a yearbook on ebay with the same logo. http://www.ebay.com/itm/SARGENT-SCHOOL-BOSTON-UNIVERSITY-ANTIQUE-1915-YEAR-BOOK-/270124509756#ht_2032wt_881
Pretty Cool