diff --git a/charts/agent-operator/Chart.yaml b/charts/agent-operator/Chart.yaml
index ea70f4756a..9778f5dc3e 100644
--- a/charts/agent-operator/Chart.yaml
+++ b/charts/agent-operator/Chart.yaml
@@ -2,7 +2,7 @@ apiVersion: v2
 name: grafana-agent-operator
 description: A Helm chart for Grafana Agent Operator
 type: application
-version: 0.5.0
+version: 0.5.1
 appVersion: "0.43.3"
 home: https://grafana.com/docs/agent/v0.43/
 icon: https://raw.githubusercontent.com/grafana/agent/v0.43.3/docs/sources/assets/logo_and_name.png
diff --git a/charts/agent-operator/templates/_helpers.tpl b/charts/agent-operator/templates/_helpers.tpl
index e374499d0c..0f8097fdec 100644
--- a/charts/agent-operator/templates/_helpers.tpl
+++ b/charts/agent-operator/templates/_helpers.tpl
@@ -35,7 +35,6 @@ Common labels
 */}}
 {{- define "ga-operator.labels" -}}
 {{ include "ga-operator.selectorLabels" . }}
-app.kubernetes.io/managed-by: {{ .Release.Service }}
 app.kubernetes.io/component: operator
 helm.sh/chart: {{ include "ga-operator.chart" . }}
 {{- if .Chart.AppVersion }}