Avraham's grandson from Yitschaq was named Ya'aqov because at birth he was grasping his brother's heel, having come out after him. He and His older brother, by minutes, were twins, the older was named 'Eisaw. Ya'aqov means he will undermine or act deviously, and, if you have read his story, you know he lived out the meaning of his name before the encounter. I don't want to recount that story up to the encounter for you, you can do that, I'm heading for the summit of that encounter. Out of that encounter, a joint of his thigh was destabilised. Afterward Ya'aqov was asked what his name was and he rightly responded with "Ya'aqov", admitting that he was truly the definition of it; an under miner, a devious actor, manipulating events and people for his own gain.
With the admittance of his character, Ya'aqov was told his name would be changed to Yisra'eil, because he had exerted power with the Powers and with men and was able to do so. The destabilising of his hip was a constant reminder of his obligation to live out his new name. Yisra'eil means He will rule of Power, or He will exert power of Power, or, after being subjugated from the exertion of power from the messenger (angel) he wrestled, Power, He will rule. As you know, that name is still the "otherwise known as" for the the twelve tribes. Yisra'eil was/is a nation of Hebrews. The name also became the appellation of a geographical location where they had settled, approx. 230 mi./370 km northeast of Mitsrayim (Egypt).
With our understanding of words reflecting character and function, we now know that they were to be a people on the move allowing Yahweh, who is the Powers, to rule through them against all the dysfunctions of mankind upon the earth. To carry that name is to allow the Powers to exert power through you against all wrong doing and injustices upon those made in an image of Him.
Are you Yisra'eil? Now that you know its concrete meaning, is that not what Yeshua was striving to establish to His 70 limudim (disciples) in Luke 10:19 upon returning from their successful heralding of the truth? He declared that His power and authority would be exuded through them. And He further confirmed it if we allow ourselves to be crucified with Him, in order that He can live in us to manifest such authority and power (Gal. 2:19-21). The Hebrew word for grace is chanan meaning bestow traits (fulfilling request for favour); traits are inherited when born within a family.
Yeshua's character traits along with His power and authority are manifested in us by His Spirit when we request infilling.
Yisra'eil - He will rule of Power.
Shalom