Since we now know Jacob was wrestling with an angel thanks to God's own commentary in Hosea 12:3-4, let's take a look at the reason for the event.

Jacob's name meant deceiver, a legacy based on his holding Esau's heel at birth. A legacy Jacob lived down to at every turn. While wrestling the angel Jacob refused to quit and won a new name for himself - Israel. It means one who wrestles or strives with God and man and wins. The implication was he was no longer a deceiver having achieved victory with God.

Believers in Jesus have a new name - Christian. It's a sign of victory in the Lord.