Event Blueprint Initialize Animation executes multiple times per instance per frame

When editing the default values of a BP using an ABP, the ABP's initialize event will be triggered multiple times in a single frame. 

In an ABP, print the path name of the instance on the initialize event.

Make and place in the level a BP with a skeletal mesh component using the above ABP.

Edit a value in the BP.

Result: The initialize event is executed multiple times per instance whenever a BP value is changed. 

Expected: The initialize event should only be executed once per instance at a time.